Ant Group plans to sell biometric security firm EyeVerify

Thursday 28 January 2021 14:51 CET | News

Tech in Asia has reported that Ant Group is planning to sell its US-based asset EyeVerify, a biometric security firm.

EyeVerify uses its eye recognition tech to replace passwords for banking applications and mobile payments. Ant Group is allegedly in talks with multiple companies regarding the sale of EyeVerify, ‘amid heightened tensions between Beijing and Washington over China’s fast-growing technology sector and tightening scrutiny over US user data’. Recently, the US government banned Americans from transacting with eight Chinese software apps including Ant Group’s Alipay over national security concerns.

The potential sale is expected to go through within H1 of 2021. Ant Group declined to comment to Tech in Asia on the matter. However, this move comes after the fintech is said to be looking to raise funds in preparation for potential fines and restructuring costs following its halted IPO last year.

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Keywords: Ant Group, US, biometrics, security, EyeVerify, business sale, US, China, banking, payments
Categories: Banking & Fintech
Countries: China, United States
This article is part of category

Banking & Fintech